MKT 389 Strategic Marketing and Planning May 2014 Tutorial Exercises Questions Introduction to Marketing Strategy Chapter 1/2 1. Discuss Table 1.1 from the perspective of your firm – giving examples of how your firm might be responding to the many factors listed. 2. Box 1.1 provides a framework for assessing a firm. You are to discuss these five key components and give some examples/ways your firm might respond to each of these components. 3. Discuss some of the key issues and factors associated with a firm’s decision relating to its product portfolio. You should discuss the product portfolio of your firm. 4. Discuss the concept of competitive positioning and assess/describe what you think is the competitive positioning of your firm. The Marketing Environment – Customer Analysis Chapter 4 1. Discuss the five key categories/groups involved in the customer purchase process – as described in Figure 4.1. You should give examples of each of these five groups as it relates to your firm. 2. Discuss both (a) the type of market research information your firm would need to have and (b) some of the preferred/better ways your firm might conduct its market research. 3. Discuss the stages in the market research process, and describe how your firm has or could use the process. 4. Case study p. 103 of text: Balderton plugs into teenagers’ attention spans Page 1 of 4 The Marketing Environment - Competitor Analysis Chapter 5 1. Discuss the importance of competitor analysis and discuss the key information your firm should have on its key competitors. 2. Discuss some of the tools and approaches you might use when trying to better understand your competitor's current and potential future strategies. 3. Discuss Figure 5.9, and how your firm could use these principles of choosing good competitors 4. Discuss the concept of benchmarking, and explain how your firm does or could use it. Organisational Resources Chapter 6 1. Discuss the key components of the resource based view of strategy and how this will shape a firms marketing strategy. 2. Figure 6.2 provides three key potential value creating disciples. You are to apply this to your firm – giving examples of both current and possible future tactics – in each of the three categories. 3. Using Figure 6.5 you are to give some examples of the “marketing assets” of your firm – and this should be done within each of the four categories. 4. Dynamic marketing capabilities are becoming g more important in today’s business environment. You are to discuss each of the three key aspects of this (Figure 6.7) - giving examples from your firm. Market Segmentation and Positioning Chapter 8 1. Discuss the key benefits associated with market segmentation and some of the problems/major issues a firm might experience when segmenting markets and making target market decisions. 2. Using your firm you are to outline some of the key approaches/factors used when undertaking market segmentation. Page 2 of 4 3. In recent years there has been increased interest in behavioural approaches to segmenting markets – both consumer and business markets. You are to discuss why this has occurred and outline some of the behavioural characteristics your firm might consider when segmenting markets. 4. You are to discuss the key principles of competitive positioning and some of the positioning risks and errors (Figure 8.3) Sustainable Competitive Advantage Chapter 11 1. On what basis has your firm achieved differentiation? Discuss the characteristics of the type of differentiation and how the firm has done this. 2. Discuss Figures 11.3 and 11.4, and how these might relate to your firm 3. Once a firm has created a competitive advantage, how to they ensure that it is sustainable? What has your firm done to sustain their competitive advantage. 4. Discuss offensive and defensive competitive strategies and explain how these have been used by your firm. Competing Through Innovation Chapter 13 1. You are to discuss the types of new products (Figure 13.6) and to suggest some examples that your firm might consider. This might require suggesting some advantages and disadvantages of these options. 2. You are to discuss some of the reasons why the success rate of new product innovation/development is often low – giving some ideas that your firm might consider to improve its success rate in this area. 3. Discuss the new product development process and explain how your company may have used this in the past, or how they might approach it in the future. 4. Discuss different innovation strategies, and how these can impact on an industry. You might explain how you firm’s industry has been impacted, of if your firm has used these strategies. Competing Through Superior Service and Customer Relationships Chapter 14 1. Discuss the relationship marketing ladder and outline ways your firm might potentially move customers “up the ladder”. Page 3 of 4 2. Discuss Figure 14.5 and provide some ideas to your firm about how it might (a) better measure customer satisfaction and (b) ways to maybe improve customer satisfaction. 3. Discuss the concept that goods and services have both a tangible and intangible element. Relate this to the goods/services of your firm. How can this make it difficult for the firm? Does the firm do anything to address this eg. Quality control, service training 4. Discuss how a firm might measure and monitor customer satisfaction. You might also wish to explain figure 14.10. How does your firm approach this? Page 4 of 4